What is Black Friday? When is Black Friday 2023? 13th October 2023 – Posted in: Blog – Tags: , , , , , ,

Black Friday – the time of jaw-dropping sales, getting your hands on something for a great deal! Everyone loves it, but do you know the history of it?

When is Black Friday 2023?

This year Black Friday is on 24th November. There is fierce competition for retailers around Black Friday, to keep stock high and people’s interests higher. Consumers will always see viral videos of the rush and madness inside stores for Black Friday’s heavily reduced items.

So what is Cyber Monday?

Cyber Monday 2023 is Black Friday’s partner in crime, this year Cyber Monday, will fall on Monday 29th November – good news for those who want to stock up on early Christmas presents! Cyber Monday doesn’t just have to be about buying Christmas gifts – you can always treat yourself!

How much is spent on Black Friday in the UK?

In 2023, it is predicted that Brits will spend a total of £3 billion while shopping the Black Friday sales, £900 million less than the expected spend of £3.9 billion in 2022. The average spend per person is estimated to be £113, which has also dropped and is 40% lower than the average spend of £190 in 2022.

Source: https://www.finder.com/uk/black-friday-statistics
Analysis conducted by finder.com

The latest Black Friday and Cyber Monday statistics

  • Brits plan to spend an estimated £3 billion in the 2023 Black Friday and Cyber Monday sales.
  • Black Friday spending is expected to drop by £900 million in 2023, down 23% from a planned spend of £3.9 billion in 2022.
  • Half of UK adults (51%) plan to spend during the Black Friday weekend, 12 percentage points more than the 39% planning to spend in 2022.
  • The average spend per person on Black Friday 2023 is predicted to be £113, 40% less than in 2022 and 59% less than in 2021. 8 in 10
  • Brits from gen Z (79%) plan to spend in the Black Friday sales, with an estimated average spend of £176, 56% higher than the national average.
  • On average, men are planning to spend £31 more than women during Black Friday 2023.
  • Londoners are expected to spend the most, with approximately 68% of residents planning to spend an average of £181 each.Source: https://www.finder.com/uk/black-friday-statistics
    Analysis conducted by finder.com

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When did Black Friday begin?

Black Friday wasn’t considered the biggest shopping day of the year until 2001, the previous years the Saturday before Christmas always trumped it. Though in America it was thought to have been the busiest shopping day of the year from 2005, perhaps earlier.

The term “Black Friday” was first used on 24th September 1869, when Financiers James Fisk and Jay Gould, also known as the Gold Ring, were trying to corner the gold market on the NYSE. The President at the time, Ulysses S. Grant had the policy of selling gold weekly to boost the economy. The Gold Ring befriended the President to acquire knowledge of when gold was to be sold, resulting in them manipulating the market on Wall Street. The two men help Grant to send a letter informing the Secretary of Treasury that the selling of gold was harmful to the Western Farmers, whilst the president suspended sales, Fisk & Gould could have the market all to themselves. When the President learnt of their scheme, he released $4 million worth of gold on 24th September 1869, this drove down the price of gold and crushed the Gold Rings business on the market.

What’s on your Black Friday Wish List?

What’s on your Black Friday Wish List? Luxiere will be offering up 25% sale on all items from Friday 17th Nov – Monday 27th Nov. Simply use code Black25 at the checkout.

And don’t forget to check our Instagram account and enter the Luxiere Black Friday Giveaway Competition that starts on Monday 20th November.

Click here to see our new products.